China Stocks Recover as Earnings, Economic Data Boost Sentiment
- Shanghai Composite rises Monday after worst week in two months
- Concern remains that new tech board may drain market liquidity
Photographer: Lam Yik Fei/Getty Images
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China’s nervy stock market got a boost Monday after a handful of firms said earnings are improving, while data also showed the economy may be stabilizing.
The Shanghai Composite Index added 0.4% at the close, rebounding from its worst week in two months. The ChiNext Index of smaller companies rallied 1.9%. Official data released Monday on factory output and retail sales growth beat estimates for June, while investment in the first half of the year accelerated. That’s even as China’s economy grew at the slowest pace since quarterly data began in 1992.